Title
Consideration of and action on an ordinance to amend Section 102-73 of Chapter 102 to clarify the 1% discount for Hotel Occupancy Tax payments.
Body
Summary:
The ordinance is to clarify the following in Section 102-73 of Chapter 102.
The 1% payment discount is only if quarterly collections are remitted timely, meaning: “The person required to collect the tax may deduct and withhold from the person’s payment to the City, as reimbursement for the cost of collecting the tax, an amount equal to one percent of the amount of tax collected and required to be reports to the City. Such reimbursement shall be forfeited in case of failure of person to pay the tax on or before the due date.”
For example, if the total Hotel Occupancy Tax Collections due for a stated quarter were $100.00, $1.00 would be deducted from the payment remitted to the City, assuming the payment was made on or before the due date.
This is in accordance with the State Comptroller’s Office.
Fiscal/Budgetary Impact:
N/A. This has been done in practice; this update is simply clarifying existing verbiage.
Recommended action
Approve the ordinance amending Section 102-73 of Chapter 102 to clarify the 1% discount for Hotel Occupancy Tax payments.